LIBRARY OF CONGRESS. 



:*> 

Shelf _&Sajo,c 

IX 

UNITED STATES OF AMERICA. 



Time Tables. 

Showing at a glance the maturity of Notes and Drafts payable in 
30, 60, and 90 days irom any date. 

TABLE. 

Showing the number of days from any one date to any 
other given date. 




Also, Interest and Discount explained, and several methods of 
calculating 

INTEREST AND EQUATION OF PAYMENTS, 

Averaging Accounts, and Accounts Current per Average, Proving 
same by actual Interest Statements. 



Compiled and Arranged by 

HENRY B. CONSTABLE, 
Norfolk. Va. 



PRICE .... $1.00. 



^ V ^WW/*^Jk 






.c; 6 ^ 



Copyright, 1885, by Henry B. Constable. 




THE following Tables are so very simple and 
yet so accurate that they need no other 
testimonial than their own intrinsic worth to 
recommend their use to all Bank Discount and 
Note Clerks, as well as to all other Accountants 
generally. 

EXPLANATION. 

Find the date of the note or acceptance to be 
matured in the first column on the left of the 
month corresponding to its date. Opposite to 
this date, and under the given term of 30, 60, or 
90 days, will be seen the maturity, to which add, 
as usual, the days of grace. 





MATURITY TABLES. 




JANUARY. 




Date of 
Papeb 


THE 


30 Days. 


60 Days. 


90 Days. 


January.. 


.... 1 


Jan 31 


March.... 2 


April 1 




2 


Feb 1 


3 


2 




3 


2 


4 


3 




4 


3 


5 


4 




5 


4 


6 


5 




6 


5 


7 


6 




7 


6 


8 


7 




8 


7 


9 


8 




9 


8 


10 


9 




10 


9 


11 


10 




11 


10 


12 


11 




12 


11 


13 


12 




13 


12 


14 


13 


H 


14 


13 


15 


14 


ft 


15 


14 


16 


15 


16 
17 


15 

16 


17 

18 


16 


17 




18 
19 
20 
21 


17 

18 

19 

20 


19 


18 


20 


19 


21 

22 


20 


21 




22 


21 


23 


22 




23 
24 
25 

26 

27 
28 
29 
30 
31 


22 


24 

25 

26 


23 

24 


23 


24 

25 

26 


..25 


27 


26 


28 


. 27 


27 


...29 


,..28 


28 

March.... 1 
2 


30 


..29 


31 


30 

May 1 


April 1 







MATURITY 


TABLES. 






FEBRUARY. 




Date op 
. Paper 


THE 


30 Days. 


60 Days. 


90 Days. 


February. 


... 1 


March.... 3 


April 2 


May 2 




2 


4 


3 


3 




3 


5 


4 


4 




4 


6 


5 


5 




5 


7 


6 


6 




6 


8 


7 


7 




7 
8 


9 

10 


8 

9 


8 


9 




9 


11 


10 


10 




10 


12 


11 


11 




11 


13 


12 


12 




12 


14 


13 


13 


Ph 


13 


15 


14 


14 


14 


16 


15 


15 


-4 


15 


17 


16 


16 


P 


16 


18 


17 


17 


Ph 
Ph 


17 


19 


18 


18 


Ph 


18 


20 


19 


19 


Ph 


19 


21 


20 


20 




20 


22 


21 


21 




21 
22 


23 

24 


22 


22 


23 




23 


25 


24 


24 




24 
25 

26 


26 

27 

28 


25 

26 

27 


25 


26 


27 




27 


29 


28 


28 




28 


30 


29 


29 







MATURITY 


TABLES. 




MARCH. 




Date of 
Papef 


THE i 30 Days. 


60 Days. 


90 Days. 


March..... 


.... 1 March ....31 


April 30 


May 30 




2 
3 


April 1 

2 


May 1 

2 


31 

June 1 




4 


3 


3 


2 




5 


4 


4 


....: 3 




6 


5 


5 


4 




7 


6 


6 


5 




8 


7 


7 


6 




9 
10 


8 

9 


8 


7 


9 


8 




11 


10 


10 


9 




12 


11 


11 


10 




13 


12 


12 


11 


o 


14 


13 


13 


12 


15 


14 


14 


13 


16 


15 


15 


14 


<j 


17 


16 


16 


15 


S 


18 


17 


17 


16 




19 18 


18 


17 




20 19 


19 


18 




21 20 


20 


19 




22 


21 


21 


20 




23 


22 


22 


21 




24 


23 


23 


22 




25 


24 


24 


23 




26 


25 


25 


24 




27 


26 


26 


25 




28 


27 


27 


26 




29 


28 


28 


27 




30 


29 


29 


28 




31 


30 


30 


29 







MATURITY 


TABLES. 




APRIL. 




Date of 
Paper 


THE 


30 Days. 


60 Days. 


90 Days. 


April 


.... 1 


May 1 


May 31 


June 30 




2 


2 


June 1 


July i 




3 


3 


2 


2 




4 


4 


3 


3 




5 


5 


4 


4 




6 


6 


5 


5 




7 


7 


6 


6 




8 

9 

10 


8 


7 

8 

9 


7 

8 


9 

10 


9 




11 


11 


10 


10 




12 


12 


11 


11 




13 


13 


12 


12 




14 


14 


13 


13 


A 


15 


15 


14 


14 


M 


16 


16 


15 


15 


<1 


17 


17 


16 


16 


18 


18 


17 


17 




19 


19 


18 


18 




20 


20 


19 


19 




21 


21 


20 


20,, 




22 


22 


21 


....21 




23 


23 


...22 


22 




24 


24 


23 


23 




25 


25 


24 


24 




26 


26 


25 


25 


■ 


27 


.... 27 


26 


26 




28 


28 


27 


27 




29 


29 


28 


28 




30 


30 


29 


29 







MATURITY TABLES. 




MAY. 




Date of 
Papee 


THE 


30 Days. 


60 Days. 


90 Days. 


May 


.... 1 


May 31 


June 30 


July 30 




2 


June 1 


July 1 


31 




3 


2 


2 


Aug 1 




4 


3 


3 


2 




5 


4 


4 


3 




6 


5 


5 


4 




7 


6 


6 


5 




8 


7 


7 


6 




9 
10 


8 


8 


7 

8 


9 


9 




11 


10 ! 10 


9 




12 


11 11 


10 




13 


12 12 


11 




14 


13 


13 


12 


r* 


15 


14 


14 


13 


<i 


16 


15 


15 


14 


3 


17 


16 


16 


15 




18 


17 


17 


16 




19 


18 


18 


17 




20 


19 


19 


18 




21 


20 


20 


19 




22 


21 


21 


20 




23 


22 


22 


21 




24 


23 


23 


22 




25 


24 


24 


23 




26 


25 


25 


24 




27 


26 


26 


25 




28 


.... 27 


27 


26 




29 
30 


28 

29 


28 

29 


27 


28 




31 


30 


30 


29 







MATURITY TABLES. 




JUNE. 




Date of 
Papeb 


THE 


30 Days. 


60 Days. 


90 Days. 


June 


.. . 1 


July 1 


July 31 


Aug 30 




2 


2 


Aug 1 


31 




3 


3 


2 


Sept 1 




4 


4 


3 


2 




5 


5 


4 


3 




6 


6 


5 


4 




7 


7 


6 


5 




8 
9 


8 


7 

8 


6 

7 


9 




10 


10 


9 


8 




11 


11 


10 


9 




12 


12 


...11 


10 




13 


13 


12 


11 




14 


14 


13 


12 


H 


15 


15 


14 


13 


* 


16 


16 


15 


14 


P 

Hi 


17 


17 


16 


15 




18 


18 


17 


16 




19 


19 


18 


17 




20 


20 


19 


..18 




21 


21 


20 


19 




22 


22 


21 


.20 




23 


23 


22 


21 




24 


24 


23 


22 




25 


25 


24 


23 




26 


26 


25 


24 




27 


27 


26 


25 




28 


28 


27 


26 




29 


29 


28 


27 




30 


30 


29 


28 



10 







MATURITY 


TABLES. 










JULY 


• 






Date of 
Papef 


THE 


30 I 


>AYS. 


60 D. 


its. 90 D. 


AYS. 


July 


.... 1 

2 


July.. 
Aug.. 


....31 
.... 1 


Aug... 


...30 Sept... 
...31 


...29 
...30 




3 
4 




2 
.... 3 


Sept.. 


.... 1 Oct.... 
2 


... 1 
... 2 




5 




.... 4 




... 3 


... 3 




6 




.... 5 




... 4 


... 4 




7 




.... 6 




... 5 


... 5 




8 




— 7 




... 6 


... 6 




9 




.... 8 




. .. 7 


... 7 




10 
11 




.... 9 
....10 




... 8 


... 8 


... 9 


... 9 




12 




....11 




...10 


...10 




13 




....12 




...11 


...11 




14 




....13 




...12 


...12 


> 


15 




....14 




...13 


...13 


~ 


16 




....15 




...14 


...14 


P 


17 




....16 




...15 


...15 




18 




....17 




...16 


...16 




19 





....18 




...17 


...17 




20 




....19 




...18 


...18 




21 




....20 




...19 


...19 




22 




....21 




...20 


...20 




23 




22 




...21 


...21 




24 




....23 




22 


...22 




25 




....24 




...23 


...23 




26 




...25 




...24 


...24 




27 




... 26 




...25 


...25 




28 




....27 




...26 


...26 




29 




....28 




...27 


...27 




30 




....29 




...28 


...28 




31 




....30 




...29 


...29 





11 





MATURITY TABLES. 


• 


AUGUST. 




Date of 


THE 


30 Days. 


60 Days. 


90 Days. 


Papef 


>. 








August.... 


.... l 


Aug...... 31 


Sept 30 


Oct 30 




2 


Sept 1 


Oct 1 


3'1 




3 


2 


2 


Nov 1 




4 


3 


3 


2 




5 
6 


4 

5 


4 

5 


3 


4 




7 


6 


6 


5 




8 


7 


7 


6 




9 


8 


8 


7 




10 


9 


9 


8 




11 


10 


10 


: 9 




12 


11 


11 


10 




13 


12 


12 


11 


H 


14 


13 


13 


12 


P 


15 


14 


14 


13 


16 


15 


15 


14 


P 


17 


16 


16 


15 


< 


18 


17 


17 


16 




19 


18 


18 


17 




20 


19 


19 


18 




21 


20 


,...20 


19 




22 


21 


21 


20 




23 


22 


22 


21 




24 


23 


23 


22 




25 


24 


24 


23 




26 


25 


25 


24 




27 


26 


26 


25 




28 


27 


27 


26 




29 


28 


28 


27 




30 


29 


29 


28 




31 


30 


30 


29 



12 







MATURITY TABLES. 






SEPTEMBER. 


• 


Date of 
Paper 


THE 


30 Days. 


60 Days. 


90 Days. 


September 


.. 1 


Oct 1 


Oct 31 


Nov 30 




2 


2 


Nov 1 


Dec 1 




8 


3 


2 


2 




4 


4 


3 


3 




5 


5 4 


4 




6 


6 


5 


5 




7 


7 


6 


6 




8 
9 


8 


7 

8 


7 

8 


9 




10 


10 


9 


9 




11 


11 


10 


10 




12 


12 


11 


11 


M 


13 


13 


12 


12 


pq 


14 


14 


13 


13 


P3 


15 


15 


14 


U 


16 


16 


15 


15 ! 


H 


17 


17 


16 


16 i 




18 


18 


17 


17 


19 


19 


18 


18 1 




20 


20 


19 


19 




21 


21 


20 


20 




22 


22 


21 


21 




23 
24 


23 

24 


22 

!!!!"!!"!.23 


22 


23 




25 


25 


24 


24 




26 


26 


25 


25 




27 


27 


26 


26 




28 


28 


27 


27 




29 


29 


28 


28 




30 


30 


29 


29 





13 





MATURITY TABLES. 


♦ OCTOBER. 




Date of the 
Paper. 


30 Days. 60 Days. 


90 Days. 


October 1 


Oct 31 


Nov 30 


Dec 30 


2 


Nov 1 


Dec 1 


31 


3 


2 2 


Jan 1 


4 


3 ! 3 


2 


5 


4 4 


3 


6 


5 


5 


4 


7 


6 


6 


5 


8 


7 


7 


6 


9 
10 


8 


8 


7 

8 


9 


9 


11 


10 


10 


9 


12 


11 


11 


10 


13 


12 


12 


11 


W 14 


13 


13 


12 


3 15 

CO 

O 16 


14 


14 


13 


15 


15 


14 


H 17 


16 


16 


15 


§ 18 


17 


17 


16 


19 


18 


18 


17 


20 


19 


19 


18 


21 


20 


...20 


19 ' 


22 


21 


21 


20 


23 


22 


..22 


21 


24 


23 


23 


22 


25 


24 


24 


23 


26 

27 


25 

26 


25 


24 

25 


26 


28 


27 : 27 


26 


29 


28 ; 28 


27 


30 


29 29 


28 


31 


30 j 30 


29 



14 





MATURITY TABLES. 


NOVEMBER. 




Date of the 

^ 30 Days. 60 Days. 


90 Days. 


Paper. 




November... 1 Dec 1 Dec 31 


Jan 30 


2 
3 


2 


Jan 1 

2 


31 

Feb 1 


3 


4 


4 


3 


2 


5 


5 


4 


3 


G 6 


5 


4 1 


7 


7 


6 


5 

6 

7 


8 


8 


7 


9 


9 8 


10 


10 9 


81 


11 


11 10 


9 


12 12 | 11 


10 


- u 


13 12 


11 


14 


13 


12 


g 15 


15 


14 


13 


5 16 


16 15 


14 


5 1T 


17 16 


15 


O 18 


18 17 


16 


£ 19 19 18 


17 


20 20 19 


18! 


21 


21 20 


19 ! 


22 
23 


22 


21 

22 


20 

21 


23 


24 


24 23 


22 


25 


25 24 


23 


26 


26 25 


24 


27 27 


26> 


25 


2- 28 


27 


26 


29 29 


28 


27 


30 30 29 


28 





15 



MATURITY TABLES. 






DECEMBER. 




Date of 
the Paper. 


30 Days. 


60 Days. 


90 Days. 


90 Days. 
Leap Yr. 


December 1 


Dec. ..31 


Jan.. ..30 


Mar.... 1 


Feb.... 29 


2 


Jan.... 1 


31 


2 


Mar... 1 


3 
4 


2 


Feb.... 1 

2 


3 

4 


2 

3 


3 


5 
6 


4 


3 

4 


5 

6 


4 

5 


5 


7 


6 


5 


i 


.. 6 


8 

9 

10 


7 


6 

7 


8 

9 

10 


.. 7 

, 8 

9 


8 

9 


8 


11 


10 


9 


11 


10 


12 


11 


10 


12 


...11 




12 


11 


13 


12 


13 


12 


14 


13 


m 15 


1-4 


13 


15 


14 


1 16 


15 


14 


16 


15 


g 17 


16 


15 


17 


16 


H 18 


17 


16 


18 


17 


ft 19 


18 


17 


19 


18 


20 


19 


18 


20 


19 


21 


20 


19 


21 


20 


22 


21 


20 


22 


21 


23 


22 


21 


23 


...22 


24 


23 


22 


24 


...23 


25 


24 


23 


25 


24 


26 


25 


24 


26 


25 


27 


26 


25 


27 


26 


28 


27 


26 


...28 


27 


29 


28 


27 


29 


28 


30 


29 


28 


30 


..29 


31 


30 


Mar... 1 
Feb. ..29 


31 


30 





16 



MATURITY TABLES. 

JANUARY. Leap Year. 



Date of the 
Paper. 



30 Days. 



60 Days. 



90 Days. 



January, 









. 1 

2 

3 

4 

5 

6 

7 

8 

9 

10 

11 

12 

13 

14 

15 

16 

17 

18 

19 

20 

21 

22 

23 

24 

25 

26 

27 

28 

29 

30 

31 



Jan . 
Feb. 



March. 



.31 
. 1 
2 
. 3 
. 4 
. 5 
. 6 
. 7 
. 8 
. 9 
.10 
.11 
.12 
.13 
.14 
.15 
.16 
.17 
.18 
.19 
.20 
.21 
.22 
.23 
.24 
.25 
26 
.27 
.28 
.29 
. 1 



March... 1 

2 

3 

..4 

5 

6 

7 

8 

9 

...10 

11 

12 

13 

.....14 

,....15 

16 

17 

18 

19 

20 

21 

22 

23 

24 

25 

26 

27 

28 

29 

30 

31 



March... .31 

April 1 

2 

3 

4 

5 

6 

7 

8 

9 

10 

11 

12 

13 

14 

15 

16 

17 

18 

19 

20 

21 

22 

'.'. !....23 

24 

25 

26 

27 

28 

29 

30 



17 





MATURITY TABLES. 




FEBRUARY. Leap Year. 




Date of 
Papee 


THE 


30 Days. 


60 Days. 


90 Days. 


February. 


... 1 


March... 2 


April 1 


May 1 




2 


3 


2 


2; 




3 


4 


3 


3 




4 5 


4 


4 




5 


6 


5 


5 




6 


7 


6 


6 




7 


8 


7 


7 i 




8 9 


8 


8 i 




9 10 


9 


9 ! 


pS 


10 11 


10 


10 


< 


11 12 


11 


11 


H 


12 ! 13 


12 


12 ! 


Ph 


13 14 


13 


13 1 




14 15 


14 


14 


h3 


15 


16 


15 


15 ! 


. 


16 


17 


16 


16 ' 


< 


17 


18 


17 


17 


18 


19 


18 


18 


P 


19 


20 


19 


19 


rt 


20 


21 


...20 


20 




21 


22 


21 


21 


fr 


22 
23 


23 

24 


22 

......2?> 


92 


23 




24 1 25 


24 


24 




25 ! 26 


25 


. 25 




26 27 


26 


26 




27 


28 


27 


27 




28 


29 


28 


28 


1 


29 


30 


29 


29 



18 



TABLES 



SHOWING THE NUMBER OF DAYS FROM ANY ONE 
DATE TO ANY OTHER GIVEN DATE. 



These Tables will be found very useful to Bank 
Discount Clerks in discounting Notes and Bills, 
and to Accountants when making up Interest 
Accounts Current. Their simplicity and accuracy 
are apparent at first sight, and scarcely need any 
explanation. 

EXAMPLE. 

To find the number of days, say from 4th Feb- 
ruary to 18th June, it is only necessary to cast 
the eye to the red figures opposite February 4th 
and we find 35 ; then cast the eye to the red 
figures opposite June 18th and we find 169. De- 
duct the former from the latter red numbers and 
we have the answer, say 134 days. 



19 



TIME TABLES. 


January. 


February. 


March. 


April. 


Jan. 1 


1 


Feb. 1 


32 


Mar. 1 


60 


Apr. 1 


91 


2 


2 


2 


33 


2 


61 


2 


92 


3 


3 


3 


34 


3 


62 


3 


93 


4 


4 


4 


35 


4 


63 


4 


94 


5 


5 


5 


36 


5 


64 


5 


95 


6 


6 


6 


37 


6 


65 


6 


96 


7 


7 


7 


38 


7 


66 


7 


97 


8 


8 


S 


39 


8 


67 


8 


98 


9 


9 


9 


40 


9 


68 


9 


99 


10 


10 


10 


41 


10 


69 


10 


100 


11 


11 


11 


42 


11 


70 


11 


101 


12 


12 


12 


43 


12 


71 


12 


102 


. 13 


13 


►5 13 


44 


13 


72 


13 


103 


fe 14 
§ 15 


14 


45 


g 15 


73 


14 


104 


15 


^ 15 


46 


74 


6 15 


105 


p 16 


16 


P 16 


47 


tf 16 


75 


tf 16 


106 


£ 17 


17 


Ph it 

g 18 


48 


< 17 


76 


Pj 17 

^ 18 


107 


< 18 
^ 19 


18 


49 


S 18 


77 


108 


19 


^ 19 


50 


19 


78 


19 


109 


20 


20 


20 


51 


20 


79 


20 


110 


21 


21 


21 


52 


21 


80 


21 


111 


22 


22 


22 


53 


22 


81 


22 


112 


23 


23 


23 


54 


23 


82 


23 


113 


24 


24 


24 


55 


24 


83 


24 


114 


25 


25 


25 


56 


25 


84 


25 


115 


2G 


26 


26 


57 


26 


85 


26 


116 


27 


27 


27 


58 


27 


86 


27 


117 


28 


28 


28 


59 


28 


87 


28 


118 


29 


29 






29 


88 


29 


119 


30 


30 






30 


89 


30 


120 


31 


31 






31 


90 






When Feb 


ruary of any leap 
two dates 


year inten 
>, add one. 


/enes b 


etween the 



21 



TIME TABLES. 


May. 


June. 


July. 


August. 


May 1 


121 


June 1 


152 


July 1 


182 


Aug. 1 


213 


2 


122 


2 


is:j 


2 


183 


2 


214 


3 


123 


3 


154 


3 


184 


3 


215 


4 


124 


4 


155 


4 


185 


4 


216 


5 


125 


5 


15(1 


5 


186 


5 


217 


6 


120 


6 


157 


6 


187 


6 


218 


7 


127 


7 


158 


7. 


188 


7 


219 


8 


128 


8 


159 


8 


189 


8 


220 


9 


129 


9 


160 


9 


190 


9 


221 


10 


130 


10 


161 


10 


191 


10 


222 


11 


131 


11 


162 


11 


192 


11 


223 


i2 


132 


12 


163 


12 


193 


12 


224 


13 


133 


13 


164 


13 


194 


13 


225 


14 


134 


14 


165 


14 


195 


H W 


226 


^ 15 
5 16 


135 


H 15 


166 


h 15 


196 


g 15 

g 16 
P 17 


227 


136 


fc 16 


167 


fcj 16 


197 


228 


S 17 


137 


S 17 


168 


S 17 


198 


229 


18 


138 


^ 18 


169 


18 


199 


<i 18 


230 


19 


139 


19 


170 


19 


200 


19 


231 


20 


140 


20 


171 


20 


201 


20 


232 


21 


141 


21 


172 


21 


202 


21 


233 


22 


142 


22 


173 


22 


203 


22 


234 


23 


143 


23 


174 


23 


204 


23 


235 


24 


144 


24 


175 


24 


205 


24 


236 


25 


145 


25 


176 


25 


206 


25 


237 


26 


146 


26 


177 


26 


207 


26 


238 


27 


147 


27 


178 


27 


208 


27 


239 


28 


148 


28 


179 


28 


209 


28 


240 


29 


149 


29 


180 


29 


210 


29 


241 


30 


150 


30 


181 


30 


211 


30 


242 


31 


151 






31 


212 


31 


243 


When Feb 


ruary of any leap 


year intervenes b 


etween the 




two dates 


, add one. 




1 



22 



TIME TABLES. 


September. 


October. 


November. 


December. 


Sept. 1 


244 


Od 


;. 1 


274 


Nov. 1 


305 


Dec. 1 


335 


2 


245 




2 


275 




2 


306 




2 


336 


3 


246 




3 


276 




3 


307 




3 


337 


4 


247 




4 


277 




4 


308 




4 


338 


5 


248 




5 


278 




5 


309 




5 


339 


6 


249 




6 


279 




6 


310 




6 


340 


7 


250 




7 


280 




7 


311 




7 


341 


8 


251 




8 


281 




8 


312 




8 


342 


9 


252 




9 


282 




9 


313 




9 


343 


10 


253 




10 


283 




10 


314 




10 


344 


11 


254 




11 


284 




11 


315 




11 


345 


12 


255 




12 


285 




12 


316 




12 


346 


rf 13 


256 




13 


286 


M 
H 


13 


317 


P3 


13 


347 


S 14 


257 


P3 


14 


287 


14 


318 


14 


348 


1 15 

i i6 

H 17 


258 


PQ 
O 


15 


288 


PQ 


15 


319 


pq 


15 


349 


259 
260 


16 
17 


289 
290 




16 
17 


320 
321 


N 

o 


16 
17 


350 
351 


H 18 
S 19 


261 


O 

Q 


18 


291 


o 


18 


322 


w 


18 


352 


262 




19 


292 


ft 


19 


323 


fi 


19 


353 


20 


263 




20 


293 




20 


324 




20 


354 


21 


264 




21 


294 




21 


325 




21 


355 


22 


265 




22 


295 




22 


326 




22 


356 


23 


266 




23 


296 




23 


327 




23 


357 


24 


267 




24 


297 




24 


328 




24 


358 


25 


268 




25 


298 




25 


329 




25 


359 


26 


269 




26 


299 




26 


330 




26 


360 


27 


270 




27 


300 




27 


331 




27 


361 


28 


271 




28 


301 




28 


332 




28 


362 


29 


272 




29 


302 




29 


333 




29 


363 


30 


273 




30 
31 


303 
304 




30 


334 




30 
31 


364 
365 


When Feb 


ruary 


of any leap 


year 


intervenes b 


etween the 






two dates 


;, add 


one. 









23 







TIME TABLES. 




TO BE 


USED FOR EACH SUCCESSIVE 


YEAR. 


January. 


February. 


March. 


April. 


Jan. 1 


366 


Feb. 1 


397 


Mar. 1 


425 


Apr. 1 


456 


2 


367 


2 


398 


2 


426 


2 


457 


3 


368 


3 


399 


3 


427 


3 


458 


4 


369 


4 


400 


4 


428 


4 


459 


5 


370 


5 


401 


5 


429 


5 


460 


6 


371 


6 


402 


6 


430 


6 


461 


7 


372 


7 


403 


7 


431 


7 


462 


8 


373 


8 


404 


8 


432 


8 


463 


9 


374 


9 


405 


9 


433 


9 


464 


10 


375 


10 


406 


10 


434 


10 


465 


11 


376 


11 


407 


11 


435 


11 


466 


12 


377 


12 


408 


12 


436 


12 


467 


13 


378 


g 14 


409 


13 


437 


13 


468 


fe 14 


379 


410 


g \i 


438 


. 14 


469 


9 15 


380 


3 15 


411. 


439 


E 15 


470 


381 


& 16 


412 


K 16 


440 


« 16 


471 


fc 17 


382 


Ph 17 
§ 18 


413 


3 1T 


441 


SiJ i7 

^ 18 


472 


< 18 


383 


414 


S 18 


442 


473 


^ 19 


384 


fe 19 


415 


19 


443 


19 


474 


20 


385 


. 20 


416 


20 


444 


20 


475 


21 


386 


21 


417 


21 


445 


21 


476 


22 


387 


22 


418 


22 


446 


22 


477 


23 


388 


23 


419 


23 


447 


23 


478 


24 


389 


24 


420 


24 


448 


24 


479 


25 


390 


25 


421 


25 


449 


25 


480 


2G 


391 


26 


422 


26 


450 


26 


4S1 


27 


392 


27 


423 


27 


451 


27 


482 


28 


393 


28 


424 


28 


452 


28 


483 


29 


394 






29 


453 


29 


484 


30 


395 






30 


454 


30 


485 


31 


396 






31 


455 






When Feb 


ruary of any leap 


year intervenes b 


etween the 




two dates 


, add one. 







24 



TIME TABLES. 




TO BE USED FOR EACH SUCCESSIVE 


YEAR. 


May. 


June. 


July. 


August. 


May 1 486 


June 1 


517 


July 1 


547 


Aug. 1 


578 


2 


487 


2 


518 


2 


548 


2 


579 


3 


488 


3 


519 


3 


549 


3 


580 


4 


489 


4 


520 


4 


550 


4 


581 


5 


490 


5 


521 


5 


551 


5 


582 


6 


491 


6 


522 


6 


552 


6 


583 


7 


492 


7 


523 


7 


553 


7 


584 


8 


493 


8 


524 


8 


554 


8 


585 


9 


494 


9 


525 


9 


555 


9 


586 


10 


495 


10 


526 


10 


556 


10 


587 


11 


496 


11 


527 


11 


557 


11 


588 


12 


497 


12 


52S 


12 


55S 


12 


589 


13 


498 


13 


529 


13 


559 


13 


590 


14 


499 


14 


530 


14 


560 


H 14 


591 


^ 16 


500 


H 15 


531 


(H 15 


561 


£ 15 
g 16 

P 17 


592 


501 


£ 16 


532 


£ I 6 

S 1 7 


562 


593 


3 17 


502 


£ 17 


533 


563 


594 


18 


503 


^ 18 


534 


18 


564 


<1 18 


595 


19 


504 


19 


535 


19 


565 


19 


596 


20 


505 


20 


536 


20 


566 


20 


597 


21 


506 


21 


537 


21 


567 


21 


598 


22 


507 


22 


53S 


22 


56S 


22 


599 


23 


508 


23 


539 


23 


569 


23 


600 


24* 


509 


24 


540 


24 


570 


24 


601 


25 


510 


25 


541 


25 


571 


25 


602 


26 


511 


26 


542 


26 


572 


26 


603 


27 


512 


27 


543 


27 


573 


27 


604 


28 


513 


28 


544 


28 


574 


28 


605 


29 


514 


29 


545 


29 


575 


29 


606 


30 


515 


30 


546 


30 


576 


30 


607 


31 


516 






31 


577 


31 


608 


When February of any leap 


year intervenes b 


etween the 


two dates 


>, add one. 







25 



Interest and Discount Explained. 



SUNDRY METHODS FOR 



CALCULATING INTEREST, EQUATION OF PAYMENTS, 
AND AVERAGING ACCOUNTS CURRENT, 



With process showing how calculations are made and how 
proven to be correct by 



ACTUAL INTEREST ACCOUNT. 



27 



INTEREST 

Is a price paid for the use of money, or a com- 
pensation received for the forbearance to collect 
money due upon a debt or contract. 

Its payment may be collected at the time the 
loan is made, or at stated periods agreed upon 
between the borrower and lender, or upon the 
cancelment of the debt or obligation. 

AYhen it is received in advance, i.e., when the 
money is paid to the borrower, it is called 

DISCOUNT. 

"With Banks and Bankers it is customary to 
discount their loans, i.e.. to deduct and retain 
the interest on the face value of the paper dis- 
counted, and to pay over only the net amount to 
the borrower. 

It is also customary with Banks to charge not 
only for the time the paper may have to run to its 
maturity (including the grace days), but also for 
the day on which the discount is made. Hence, a 
note dated January 1st, payable at 90 days from 
its date, and discounted on the same day, is subject 
to 94 days' interest on its face value. 



29 



MERCHANTS, 

In rendering their accounts with interest, debit 
and credit each amount item with interest to a 
certain date named in the account, but only for 
the exact number of days between the said dates. 
The balance of interest due to or by is carried 
to the debit or credit of the account, as the case 
may be, and becomes a part of the principal, and 
as such is subject thereafter to interest. 

CALCULATION OF INTEREST. 

Commercial Interest is based upon the hypoth- 
esis that 360 and not 365 days make a year, and is 
calculated accordingly. 

RULE. 

Multiply the number of dollars by the number 
of days, and divide the product by 90, if at 4 % ; 
60, if at 6 % ; 40, if at 9 %, and so on. 

The above Divisors are arrived at by the fol- 
lowing 

RULE. 

Divide 360 (the assumed number of days in a 
year) by the given rate per cent, per annum re- 
quired, and the Quotient will give the Divisor. 

EXAMPLE. 

Percent. Days. Divisor. Percent. Days. Divisor. 

4 ^ 360 = 90 5 -=- 360 = 72 
6 -h 360 = 60 8 -f- 360 = 45 
9 -^ 360 = 40 10 ~- 360 = 36 



30 



THE FOLLOWING IS ANOTHER METHOD OF 
CALCULATING INTEREST, VIZ.: 

On the hypothesis that at 6 % per annum one 
per cent, of the amount .would be its interest for 
60 clays, at 9 % per annum one per cent, of the 
amount would be its interest for 40 days ; and at 
12 % per annum, one per cent, of the amount 
would be its interest for 30 days. 

Aliquot parts may then be taken for any number 
of days required, as shown in example and process 
below : 

EXAMPLE. 
Find the interest on $1,825.40 for 94 ds. @ 6 %. 



a u ic a 9 


153.94 " 76 " " 9 " 


" " " " 11,214.02 " 68 " " 12 " 


PROCESS. 


$1825 for 94 ds. © 6%. 


$2154 for 76 ds. © 9 %. 


$18.25 = to60ds. © 6 %. 


$21.54 = to 40 ds. © 9 % 


9.12.5= " 30 " " 6 " 


10.77 = " 20 " " 9 " 


91.2= " 3 u " 6 " 


5.38.5= " 10 " " 9 " 


30.4= " Id. u 6 " 


2.69.2= " 5 " "9 " 


$28.59.1 94 ds. 


53.8= " Id. u 9 " 




$40.92.5 76 ds. 



$11,214 for 68 ds. © 12 %. 

$112.14 =to30ds. ©12 %. 

112.14 = " 30 " " 12 " 

18.69 = " 5 " " 12 " 

11.21.4 = " 3 " " 12 " 

$254.18.4 68 ds. 



31 



941.83 " 73 " 


" 5 


1018.41 " 94 " 


" 6 


2525.63 "125 " 


" 8 


3151.10 " 152 " 


" 9 



EXAMPLE. 

1. What is the interest on $587.32 for 68 ds. @ 4 %. 

2. " " < 

3. " " < 

4. " " ' 
5 u u t 

NOTE. 

In calculating interest, the Dollars are only 
taken into account. When the cents are under 
50, they are disregarded ; when 50 and over, the 
dollars are increased by one. 

PROCESS. 



$587 
68 ds. 


$942 
73 ds. 


$1018 
94 ds 


4696 
3522 


2826 
6594 


4072 
9162 


90)39916 
$4.43.5 


72)68766($9.55 
648 

396 
360 


60)95692 
$15.95 


$2526 
125 ds. 


366 
360 


$3151 
152 ds. 


12630 
5052 
2526 




6302 
15755 
3151 


45)315750($70.17 
315 
75 




40)478952 
$119.74 


45 






300 






315 


ANSWERS. 





1. @ 4 %, $4.44 2. @ 5 %, $9.55 3. © 6 %, $15.95 
4. @ 8 %, $70.17 5. @ 9 %, $119.74 



32 



ANOTHER METHOD IS AS FOLLOWS: 

First find the interest on the given amount, at 
the rate of 6 % per annum (as per any of the pre- 
ceding methods), and deduct and add as follows : 



For 4 %, 


deduct i from same 


" 5 " 


a 


i " 


U IJ ii 


add 


i to " 


" 8 " 


u 


i " 


■ u 9 u 


u 


i u a 



EXAMPLE. 

What is the interest on $1018 for 94 days, the 
interest on same at the rate of 6 % per annum 
being $15.95. 

@ 4, 5, 7, 8, and 9 % ? 

PROCESS. 

4 %. Deduct i from $15.95 

5.32 $10.63 

5 %. Deduct i from $15.95 

2.66 13.29 

7%. Add i to #15.95 

2.66 18.61 

8 %. Add i to $15.95 

5.32 21.27 

9 %. Add J to $15.95 

7.98 23.93 



33 



EQUATION OF PAYMENTS 

Is the process of ascertaining the average or mean 
time when the payments of several sums, falling 
due at different times, may all be made payable 
and fall due at one time, alike equitable to debtor 
and creditor. 

EXAMPLE. 

Purchased at different times and on various 
credits, as per statement annexed. When is the 
whole amount due by average ? 

1884. . 
May 3. Bought bill of $387.25 on credit of 3 mos. 
June 27. " " 618.40 " " 60 ds. 

July 3. " " 300.00 as cash. 

Aug. 31. " " 410.23 on credit of 4 mos. 

PROCESS. 

$300.00 

387.25 X 31 ds. = 1200475 

618.40 X 54 " = 3339360 

410.23 X 181 " = 7425163 

$1715.88 11964998 



1st item due 


July 


3 


2d 


u 


u 


Aug. 


3 


3d 


a 


a 


Aug. 


26 


4th 


u 


u 


Dec. 


31 



171588)11964998(69 and over one-half, say 70 days 
1029528 later than July 3, 1884, say 

iSSSf due Sept. 11, 1884. 

125426 



34 



Now, to prove that the whole amount of $1715.88 
is due and payable on Sept. 11, 1884, we will make 
an interest statement to Jan. 1, 1885, and see what 
interest is due on that day, and w r e will calculate 
the interest on $1715.88 from Sept, 11, 1884, to 
Jan. 1, 1885, and see how the interest will ap- 
proximate. 

INTEREST ACCOUNT TO JANUARY I, 1885. 

Due 1884. Interest. 

July 3. $300.00 to Jan. 1, 1885 = 182 ds. $9.10 
Aug. 3. 387.25 " " " = 151 " 9.75 
Aug. 26. 618.40 " " " = 128 " 13.19 
Dec. 31. 410.23 " " " = 1 d. .07 

$1715.88 $32.11 

Interest on $1715.88 from Sept. 11, 1884, to 

Jan. 1, 1885 = 112 ds. @ 6 % = ■ - - $32.03 

Note. — The difference of interest, say 8 cents 
between the actual interest statement and average 
calculation, is owing to the fact that the fraction 
of a day is necessarily gained or lost in the average 
calculation. The result, however, is considered 
sufficiently accurate for business purposes. 



Accounts Current are frequently averaged to 
ascertain the mean time when the balance of the 
account falls due and is payable. This is known 
as a Compound Average. 



35 







EXAMPLE No. 1 






A 


owes B the following amounts, due 


on the 


following dates, viz. : 












$375.90, due 


>July 4, 


1884. 








815.58, " 


Aug. 20, 


u 








178.25, " 


Aug. 29, 


u 








387.20, " 


Sept. 25, 


u 








418.70, " 


Dec. 5, 


a 




B 


OW( 


$2175.63 


ring amounts, due 


on the 


5S A the follow 


following dates, viz. : 












$316.00, due Aug. 10, 


1884. 








675.00, " 


Sept. 1, 


a 








512.25, " 


Sept. 25, 


u 








161.75, « 


Nov. 20, 


a 








100.00, " 


Dec. 1, 


a 




When 


$1765.00 


of $410.63 due? 




is the balance 






PROCESS. 






1884 




DR. 








July 


4, 


$375.90 








Aug. 


20, 


815.58 X 47 = 


3833226 






Aug. 


29, 


178.25 X 56 = 


998200 






Sept. 


25, 


387.20 X 83 = 


3213760 






Dec. 


5, 

J 


418.70 X 154 = 
2175.63 


6447980 
14493166 













36 



1884. CR. 

July 4. 

Aug. 10, §316.00 X 37= 1169200 

Sept, 1, 675.00 X o9= 3982500 

Sept. 25, 512.25 X 83= 4251675 

Nov. 20, 161.75 X 139 = 2248325 

Dec. 1, 100.00 X 150 = 1500000 





§1765.00 13151700 


Debits, $2175.63 
Credits, 1765.00 


Product, 14493166 
" 13151700 


Balance, §410.63) 


1341466(32 and over one- 
123189 half day, 




109576 
82126 



say 33 days later than July 4, 1884, would make 
the balance of $410.63 be due and payable Aug. 6, 
1884. 

Now, to prove that the balance of 8410.63 is due 
and payable on Aug. 6, 1884. it is only necessary 
to make a debit and credit account, with interest, 
say, to Jan. 1, 1885, which will show the balance 
of interest due on that day, and then calculate the 
interest on the balance of the account, say, on 
$410.63, from Aug. 6, 1884, to Jan. 1, 1885, and see 
how the items of interest will approximate. 



37 



ACCOUNT CURRENT, WITH INTEREST TO 
JAN. I, 1885. 

1884. DEBITS. Interest. 

July 4. To Mdse. due July 4 = 181 ds., $375.90 = $11.34 
Aug. 20. " " Aug. 20 = 134 " 815.58= 18.21 

Aug. 29. " " Aug. 29 = 125 " 178.25= 3.71 

Sept. 25. " " Sept, 25= 98 " 387.20= 6.32 

Dec. 5. " " Dec. 5= 27 " 418.70 = 1.88 

$2175.63 $41.46 



1884. CREDITS. Interest. 

Aug. 10. By Mdse. due Aug. 10 = 144 ds., $316.00 = $7.59 
Sept. 1. " " Sept. 1 = 122 " 675.00= 13.73 

Sept, 25. " " Sept. 25= 98 " 512.25= 8.37 

Nov. 20. " " Nov. 20= 42 " 161.75= 1.13 

Dec. 1. " " Dec. 1= 31 " 100.00 = ^2 

$1765.00 $31.34 



Debit Interest per Account Current .... $41.46 

Credit " " " " .... 31.34 

Balance of Interest .... $10.12 

Interest on $410.63, from Aug 6, 1884, to Jan. 1, 

1885, say 148 days, @ 6 % = $10.13 



EXAMPLE No. 2, 

C owes D the following amounts, due on the 
following dates, viz. : 

1884. 

Due Jan. 21, $183.25 
" Feb. 4, 310.16 
" March 20, 423.13 
" April 10, 410.10 Total, $1326.64 



38 



D owes C the following amounts, due on the 
following dates, viz. : 

1884. 

Due Jan. 10, $285.41 
" Feb. 1, 618.21 
" March 3, 510.18 Total, $1413.80 



When is the balance, say $87.16, due? 








PROCESS. 






1884. 

Jan. 10. 
Jan. 21. 
Feb. 4. 
March 20. 
April 10. 


DR. 

$183.25 

310.16 

423.13 

410.10 

$1326.64 


Days. Products. 

XH= 201575 
X25= 775400 
X 70 = 2961910 
X 91 = 3731910 
7670795 


Days. 

L 

X22- 
1X53 = 






1884. CR. 

Jan. 10. $285.4] 
Feb. 1. 618.21 
March 3. 510. 1£ 


Products. 

1360062 
2703954 




items, 


$1413.8C 

$1326.64 Product, 
1413.80 " 


> 

7670795 
4064016 


4064016 


Debit 
Credit 




Balance Cr., 


$87.16) 


3606779(414 
34864 








12037 

8716 










33219 
34864 





Say 414 days earlier than Jan. 10, 1884 (earlier, 
because the largest sum of the products is on the 



39 



smaller sum of the account), which would make 
the balance of $87.16 due Nov. 22, 1882. 

This result appears incredible, as the earliest 
date of the account is not later than Jan. 10, 1884. 
To prove, however, the correctness of the average 
date, it is only necessary to compute the interest 
on the balance of $87.16 from Nov. 22, 1882, to 
July 1, 1884, @ 6 %, and then make an interest 
statement of the debits and credits of the account 
to the same date, say July 1, 1884, and it will 
appear that the two items of interest will ap- 
proximate. 

INTEREST STATEMENT. 

The following is a short and accurate method 
of arriving at the interest due on an account 
current, without calculating the interest on each 
separate item in the account. 

The following process applies to Example No. 2. 

PROCESS. 

1884. DRS. Days. Dr. Products. 

Due Jan. 21, $183.25, to July 1, 1884 X 162 = 2968650 

" Feb. 4, 310.16, " " X 148 = 4590368 

11 March 20, 423.13, " " , X 103 = 4358239 

" April 10, 410.10 , " " X 82 = 3362820 

§1326.64 15280077 



1884. CRS. Days. Cr. Products. 

Due Jan. 10, $285.41, to July 1, 1884 X 173 = 4937593 

11 Feb. 1, 618.21, " " X 151 = 9334971 

11 March 3, 510.18 , " " X 120 = 6122160 

$1413.80 20394724 



40 



Products of Debit Amounts, 15280077 

" Credit " 20394724 

60)5114647 

18.52 Cr. Interest. 

PROOF. 

Interest on $87.16, from Nov. 22, 1882, to July 1, 

1884, say 587 days, @ 6 % . . $8.52 

MEMORANDUM. 

If any of the amounts in the account current 
fall due later than the date to which the interest 
is calculated, count the number of days from said 
latter date to the maturity date of the amount, 
and place the product of same, if a debit amount, 
in the credit products ; if a credit amount, in the 
debit products. 

GENERAL RULES. 

To find the average or mean time, when the 
payment of several sums, due at different times, 
ma}^ appear, and be made due on a particular day, 
observe the following : 

RULE No. I. 

Set down the various sums in regular order of 
their maturity, commencing with the earliest date. 

Find the number of days from the first, or 
earliest date, to the next earliest date, and so on. 

Multiply each sum by the number of days set 
opposite thereto, and put down its product. 

Add the products, and divide same by the sum 
of the account equated. The quotient will be the 



41 



number of days later to count from than the first 
or earliest date of the equation. 

AVhen the quotient is one-half and over, count 
another day ; when under, disregard it. When 
cents in the sum are under 50, disregard them; 
when 50 and over, add one dollar to the sum. 

To find the average, or mean time, when the 
balance of an account current (with debits and 
credits of different amounts and at different dates 
of maturity) will become due, observe the fol- 
lowing : 

RULE No. 2. 

Proceed as stated in Eule No. 1, making a sepa- 
rate average for the debit and credit sums. 

If the earliest date is found in the debit amounts, 
use the said earliest date to count from in the 
credit amounts as its first date, and vice versa. 

Deduct the smaller from the larger of the debit 
and credit items, and deduct the smaller from the 
larger of their products. 

Divide the one Irv the other, and the quotient 
will give the number of days (earlier or later, as 
the case may be) to count, from the first date of 
the account being averaged. 

If the product of the larger sum in the account 
is greater than the product of the smaller sum, 
count forward from the date given by the quo- 
tient (see Example No. 1). But if the product of 
the smaller sum is greater than the product of the 
larger sum, then count backward from the date 
given by the quotient (see Example No. 2). 



42 



1 ° 



